Sarbananda Sonowal, chief minister at Assam, a northeastern state in India, has launched a digital banking campaign to instill in the local population that digital banking is the way forward, according to a report by The Times of India. Launched on Monday and in partnership with…
Sarbananda Sonowal, chief minister at Assam, a northeastern state in India, has launched a digital banking campaign to instill in the local population that digital banking is the way forward, according to a report by The Times of India.
Launched on Monday and in partnership with the State Bank of India, it is hoped that the campaign will help to spread awareness across the country to reduce the number of cash transactions. This news comes in light of the recent demonetization in India.
Speaking to The Times of India, Sonowal, said:
The Assam government is taking all possible measures to make people aware about digital banking as a way of life. After the demonetization of Rs 1,000 and Rs 500 notes in the country, it has become imperative for all citizens to reduce cash transactions to discourage accumulation of black money.
Recently, the Indian finance minister, Arun Jaitley, was reported as saying that banks should start to promote digital banking. Presently, cash accounts for 78 percent of transactions in the country.
In a bid to get India’s younger generation aware of digital currencies such as bitcoin, the Union HRD Ministry recently launched a campaign at the beginning of the month.
It is hoped that by engaging the younger population it will facilitate their awareness to cash alternatives. In Assam, student volunteers belonging to the National Service Scheme (NSS) will help to spread the world on cashless transactions.
According to The Times of India, peasants and daily wage earners will also be asked to assist, to realize Prime Minister Narendra Modi’s goal of a cashless society.
Over two weeks, the campaign will reach out to NSS volunteers from 180 colleges while 28,000 representatives at the panchayat level will also be included.
To maximize the 14-day period of the campaign all district headquarters will be covered during the first week of it while the second week will focus on uncovered centres.
According to Sonowal, the ‘Assam Model’ has been highly effective across the country which has witnessed the opening of bank accounts and the efficient handling of the post-demonetization process.
Bank officials who understand, and can explain digital products, will undertake a two-hour session in various venues, highlighting the features and operations of the benefits of digital banking. NSS students will then receive information on how to download mobile applications before being assigned the task of informing ten people in the area.
With high hopes riding on the campaign, it is hoped that this will increase much-needed awareness on cash alternatives.
Images from Shutterstock.
Last modified: January 25, 2020 11:56 PM UTC